Allowed

M/s.Tvs Credit Services Limited v. Mr.Jaykaran Singh

Madras HC28 Sept 2021Arb Appln/142/2021

Case brief

AI extract

What is this about?

Single judge order granting an application under the Arbitration & Conciliation Act to appoint a receiver to seize a vehicle retained by the respondent due to loan default, allowing police assistance for execution.

What did the court decide?

Appointment of Mr. Ansar Ahamad Siddiqui as receiver to seize the respondent's vehicle with police aid for a period of six weeks.

M/s.Tvs Credit Services Limited Vs… — Contract and Commercial Disputes | Madras HC (2021)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(ORDINARY ORIGINAL CIVIL JURISDICTION)

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TUESDAY, THE 28TH DAY OF SEPTEMBER 2021

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THE HON'BLE MR. JUSTICE V.PARTHIBAN

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Arb.Appln. No.142 of 2021

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In the matter of Arbitration & Conciliation Act, 1996 and

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In the matter of Disputes between M/s. TVS Credit Services Limited and Mr. Jaykaran Singh Arising under Loan Cum Hypothecation Agreement Dated 25.04.2019 bearing Agreement No. UP3038TR0001557.

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M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai – 600 006. Represented by its Authorised Signatory ... Applicant

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Vs.

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Mr. Jaykaran Singh, S/o. Rameshwar Singh, H.No.99 Vill Ajarauli, Post Pallawan, Khaga, Fatehpur, Nr. In front of Pond, Ahmadpur Kusumbha B.O., Uttar Pradesh – 211 641. ... Respondent

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Application praying that this Hon'ble Court be pleased to appoint

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the employee of the Applicant viz, Mr.Ansar Ahamad Siddiqui, Territory Collection Manager, as Receiver to seize and take possession of the

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Vehicle which is more fully described in the schedule to the Judges Summons which is lying in the custody of respondent or respondent's men, agents, servants, from respondent premises or wherever found with Police aid and break open of premises if necessary.

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This application coming on this day before this court for hearing in the presence of Mr.D.Pradeep Kumar, Advocate for the Applicant herein, and the respondent herein not appearing in person or by advocate and upon reading the Judge's Summons and the affidavit of Shanthi G.K. filed herein, it is ordered as follows:-

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That Mr.Ansar Ahamad Siddiqui, Territory Collection Manager, of the applicant's company be and is hereby appointed as the receiver to seize the vehicle morefully set out in the schedule hereunder, covered under the contract and this order shall operate only for a period of six (6) weeks from the date of receipt of a copy of this Order and thereafter, this Order shall stand automatically cancelled.

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That the receiver appointed herein shall be entitled to seize and take possession of the vehicle from the respondent or his agents or any one in possession thereof.

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That if necessary the Receiver appointed herein, shall get police assistance and the Station House Officer of the Police Station concerned, within whose jurisdiction the vehicle is found, shall render requisite

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assistance for this purpose.

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That the order appointing the Receiver shall be served on the

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respondent by the applicant before the Receiver takes any action on the

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basis of this order.

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That the Arb.Appln. No.142 of 2021 do stand closed.

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SCHEDULE

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Eicher 333 Super Plus, bearing Engine No. S324E82379, Chassis No. 927714119950 and Registered as UP71AM0565.

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WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 28TH DAY OF SEPTEMBER 2021.

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Sd/ASSISTANT REGISTRAR (Comm. Cases) //Certified to be true copy// Dated at Madras this the day of 2021.

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COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

EVK

12/10/2021

Arb.Appln. No.142 of 2021

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ORDER

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DATED : 28.09.2021

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THE HON'BLE MR. JUSTICE V.PARTHIBAN

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FOR APPROVAL: 20/10/2021

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APPROVED ON: 25/10/2021

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Copy to:-

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Mr.Ansar Ahamad Siddiqui, Territory Collection Manager Receiver, M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai – 600 006.

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(ORDINARY ORIGINAL CIVIL JURISDICTION)

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TUESDAY, THE 28TH DAY OF SEPTEMBER 2021

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THE HON'BLE MR. JUSTICE V.PARTHIBAN

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Arb.Appln. No.142 of 2021

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In the matter of Arbitration & Conciliation Act, 1996

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and

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In the matter of Disputes between M/s. TVS Credit Services Limited and Mr. Jaykaran Singh Arising under Loan Cum Hypothecation Agreement Dated 25.04.2019 bearing Agreement No. UP3038TR0001557.

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M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai – 600 006. Represented by its Authorised Signatory ... Applicant

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Vs.

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Mr. Jaykaran Singh, S/o. Rameshwar Singh, H.No.99 Vill Ajarauli, Post Pallawan, Khaga, Fatehpur, Nr. In front of Pond, Ahmadpur Kusumbha B.O., Uttar Pradesh – 211 641. ... Respondent

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Application praying that this Hon'ble Court be pleased to appoint

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the employee of the Applicant viz, Mr.Ansar Ahamad Siddiqui, Territory Collection Manager, as Receiver to seize and take possession of the

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This Application coming on this day before this court for hearing, the court made the following order:-

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This application has been filed for an interim measure of appointing a receiver to seize the vehicle.

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The respondent availed a vehicle loan from the Applicant

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company and executed a loan agreement No.UP3038TR0001557 dated 24.04.2019, for a sum of Rs.2,14,518/- to be paid in 08 instalments and the first instalment commenced from 05.08.2019 and the re-payments were to run till 05.05.2021. It is stated that as on 26.07.2021, a sum of Rs.96,566.10/- is outstanding. In terms of the loan agreement executed by the respondent, the applicant/Finance company is entitled to repossess the vehicle in the event of default committed by the respondent.

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It is also submitted that the continued use of the vehicle by the respondent would depreciate its value.

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The learned counsel for the applicant submitted that service has

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been completed on the respondent. From the court records, it is seen that the respondent has been served notice and despite his name appeared in the cause list today, there is no appearance by him or anyone on his behalf.

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In the above circumstances, in consideration of the pleadings and the materials placed on record, this Court is convinced that the applicant has made out a prima facie case and balance of convenience is in favour of the applicant. Therefore, the named receiver in the application Mr.Ansar Ahamad Siddiqui, Territory Collection Manager of the applicant company is appointed as a receiver to seize the vehicle covered under the contract. This Order shall operate only for a period of six weeks from the date of receipt of a copy of this Order and thereafter, this Order shall stand automatically cancelled.

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The receiver will be entitled to seize and take possession of the vehicle from the respondent or his agents or any one in possession thereof. If necessary, the Receiver shall get police assistance and the Station House Officer of the Police Station concerned, within whose jurisdiction the vehicle is found, will render requisite assistance for this purpose.

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This Order of appointment shall be served on the respondent by the applicant before the receiver takes any action on the basis of this

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Order.

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Accordingly, this application is closed.

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Sd./-V.P.N.J. 28.09.2021

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//Certified to be true copy// Dated at Madras this the day of 2021.

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COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

M/s.Tvs Credit Services Limited v. Mr.Jaykaran Singh

Case brief

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M/s.Tvs Credit Services Limited v. Mr.Jaykaran Singh

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